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Economic Questions and Answers
Student’s Name
Insitution
It means that without scarcity there would be no need for economics. Scarcity means unlimited resources, which are used in the economics.
Production possibility curve is defined as the curve, which indicates the combinatiions two sets of goods that can be produced with limited resources. It is used to measure the highest output of goods or products using the input.
K 80 tones
Production cost is the benefit, which is given up when one investor or a business decided to pursue an altenative over the another. It is simple the opportunity, which is missed when an an investment means.
85
I would tell the government to increase production is going on well. The government need to produce more neccessities and reduce luxuries. This is because majority of citizens need neccessarities than luxuries and therefore, it is meeting the objective of the economic growth.
The chances of success if high it has more neccessaritie than luxuries.
I disagree. Market economy is more efficient because it is determined by market factors such as competition, prices, demand and supply and others. The demand economy is directed by government and therefore, very rigid and always scared investors.
The U.S. abondoned central planning so that it ignite its economic growth. The central planning was highly critized by the European and therefore, it was abondoned so that it can attract investors.
Former Soviet Union countries are trying to develop market economy to attract investors, and to expand its economy beyond the central ideas.
To reduce overhead expenses and increase sevrices delivery to customers. Technlogy is meant to help an organization to increase profit and improve services to the people and therefore, these are what insurance company, a dress market and sales clerk would consider.
I agree. It is because in market economy suppliers and other stakeholders determine their own prices and sometimes hold products to spaculate and this hurt the economy.
I agree. Because it does not affect the majority of people.The U.S. has the highest GDP while majority of its citizens are also live in poverty. This means that the economic impact to the lives of people is less. The poorest does not gain from the economic growth and this is an injustice to the people.
Graphic and Supply and Demand
Graph
Figure 1: demand and supply graph
The grpag shows a supply curve
It moves negative because it indicates the a decerese in supply of goods.
It shows a demand curve
It shows a increase in demand, which is a positive effect
The equilibrium is $4
Analyze the political Carton
It represents the people or citizen of middle or upper income class in the society. The property on the background can indicates the possession of the property.
The eminent domain limits the right of people to own property because the government has the right to possess an individual property and convert to puiblic use. This therefore, limits the owenrship of property by individuals because nobody knows when or how the government would claim possession of his or her property.
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